Prices Falling

Sun (Auckland), Volume III, Issue 915, 7 March 1930, Page 10

Prices Falling

MARKET ON ’CHANGE

liy

Noon Call

MOVEMENTS Oil ’Change over the past 24 hours have mostly been downward, particularly in respect to stocks widely held. It seems that tjie number of marginal holders taking notice of all the bearing and pessimistic talk which is so prevalent at the moment is increasing. Sellers predominate in every group.

Fluctuations Price movements, shown by a comparison of sales over the past 24 hours with the price at the. time of the previous recorded sale, include: Electrolytic Zinc (pref.), f a 11 of 11d. New Zealand Insurance, fall of 3d. Bank of New Zealand, fall of Id. Bank of Australasia, fall of 1s 6d. Corrmercial Bank of Australia, rise o r ‘ 3d. Business on the Auckland Market. Transactions on the Auckland mar- : ket over the past 24 hours included: Yesterday afternoon.—New Zealand Inscribed Stock. 1936, per cent., £99 2s 6d; Commercial Bank of Australia (pref.), £6 10s; Bank of Australasia, ,£l2 3s 6d; New Zealand Insurance, C2 3s 6d; Auckland Gas (con.), 17s; .Electrolytic Zinc (.pref.), -6s 9d; Mount £»yell Mining. 33s 6d. At. this morning’s early call: National Bank of ’Asia, £ls; Bank of N«/\v Zealand, 57s l£d: Grey Valley Collieries. 26s 9d; Moanataiari Mining, 2s 2d; AVaihi Mining, 13s 7d. At midday: Commercial Bank of Australia, 2ls lOd; New Zealand loss u ranee, 43s 9d. Market at Midday Little movement was registered in the market at midday and earlier quotations were altered in less than half a dozen instances. In the banking group Commercials are a little firmer. Any other movement in the section over the past 24 .hours has been downward. Insurances are quiet, with quotations mostly nominal and little buying strength. Mining is weak and neglected. There is a steady demand for < iovegpment and local body securities, but the market, generally, is over the 54 per cent, level set by the Government’s over-the-counter loan. Alexander Mines Clean-Up The secretary of the Stock Exchange has received a telegram from the secretary of the Alexander Mines, Reef-

t-.in, stating that the mine's clean-up Cor February was 340 tons of ore crushed for 2520 z of melted gold. The cyanide plant treated 252 tons of sand for 970 x. of bullion, a total estimated value of £1,245. Wai h i Mining Company The following information has been cabled to the London office of the Wailii Gold Nytning Company: In the Xo. 10 level, in the south section of the /Umpire lode, driving west; ot London South crosscut, the next 25 feet as.•says 28s 6d a ton. At 141 teet the d/rive passed through a crosscourse tlyiree feet wide, assaying 33s 9d a ton, the course being north and south. Continuing on the course of the IjJvnpire lode, the next 3G feet asS;IVS 55s 3d a ton. The width of the lodey"varied between three and five feet. In ijio No. 13 level, the crosscut to thj* south-east is now in 210 feet in cXitintry rock, with leaders of quartz. Howard Smith Dividend Passed A number of Australian joint-stock companies have reduced their dividends or passed them altogether. The Wallaroo-Mount Lyell Fertilisers. Ltd., lias passed the interim dividend because "it was impossible to forecast the results of this season’s trading.” Another concern to pass the dividend is Howard Smith, Ltd. The final dividend on the ordinary shares, covering the half-year to December 31, is passed. In the first half of the year an interim dividend of 24 per cent, was paid. The full dividend for 1927 was 10 per cent., for 1928 it was 74 per cent., and for 1929 the ordinary shareholders have received 24 per cent. The quarterly dividend of G per cent, per annum on preference shares is payable on April 5. Dividends Payable . Due. Huddart -Parker—final, ord., 5 )).c.; pref., 3 p.e Mar. 15 Bank of Australia—final, 7 - per cent .. About Mar. 22 O. L. innes—interim, pref., 4 p.c .. Mar. 31 Booth, Macdonald and Co., p.c., pref Mar. Milne and Choyce, Ltd. —interim, ord., pref, and deb. stk., 8 p.c., p a Apr. 10